In its quarterly earnings report, Netflix reassures shareholders that its starting price of $6.99 per month in the US is competitive compared to other streaming services. The company highlights that this is even lower than the average price of a single movie ticket. However, it remains to be seen if this reasoning will be enough to retain subscribers. Netflix has faced criticism for frequently canceling its original shows after just a few seasons, much to the disappointment of many viewers.
In addition to its own reputation, Netflix also confronts the challenge of a fragmented streaming industry. In the early days, Netflix offered a vast catalog of popular third-party content. However, this is no longer the case as numerous streaming services now vie for consumers’ entertainment budgets. With prices increasing across the board, some users have expressed frustration that their monthly streaming expenditure rivals that of their previous cable bills, prompting a number of cord-cutters to return to piracy.
At the Annual General Meeting of Volkswagen AG, the shareholders voted by a majority of 99.99 percent to approve the recommendation of the Board of Management and the Supervisory Board to increase the dividend for fiscal year 2022 to EUR 8.70 per ordinary share and EUR 8.76 per preferred share. This corresponds to a payout ratio of 29.4 percent and an increase of EUR 1.20 per share, which is significantly higher than previous year’s payout ratio of 25.4 percent.
At the beginning of January Volkswagen also paid out the special dividend from the successful IPO of Porsche AG in the amount of EUR 19.06 per ordinary and preference share.
The resolution on the formal approval of the members of the Board of Management and the Supervisory Board who held office in fiscal year 2022 was passed.
Dr Günther Horvath was elected to the supervisory board, succeeding the late Dr Louise Kiesling. Dr Wolfgang Porsche and Marianne Heiß were elected to the board for a further term of office. In addition, the adjustments to the remuneration of the Executive Board and the Supervisory Board were approved.
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